Securities Commission Ascot Licence Issue Investigated

Malaysian stock exchange urged to look into a confusing situation

Did Vincent Tan’s online sports betting firm Ascot Sports get a government licence? This is the central question in a controversial row building in Malaysia where confusion reigns over whether the sports betting company will be able to legally accept bets by September

Tan, who sold 70 percent of the firm to another company in which he has an interest, Berjaya Corporation, appears to be under the impression that the federal government awarded the licence, but this week the government emphasised that it had not and was still studying the application, along with a public consultation exercise.

Now the Securities Commission has weighed in on the controversy, urging the Bursa Malaysia (stock exchange) to conduct an enquiry to ascertain whether there was a deliberate attempt to mislead, reports the Malay Mail.